The global hydraulic pumps market is projected to expand at a CAGR of 3.74% over the forecast period to reach US$13.575 billion by 2028.

NOIDA, UTTAR PRADESH, INDIA, January 17, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the global hydraulic pumps market is projected to grow at a CAGR of 3.74% between 2021 and 2028 to reach US$13.575 billion by 2028.

The size of the hydraulic pump market is expected to increase, driven by the growth in automotive production, expanding water treatment activities, and the rise in aerospace and defence operations.

Hydraulic pumps represent mechanical apparatuses meticulously engineered to produce fluid flow and generate hydraulic power. Within hydraulic systems, their pivotal role involves the transformation of mechanical energy into fluid pressure. The hydraulic pump industry offers various types of pumps, including gear pumps, piston pumps, vane pumps, and screw pumps, each serving critical functions in applications spanning aerospace and defence, industrial sectors, automotive, and water treatment. These pumps contribute to precise control and ensure the reliable operation of hydraulic systems. In particular, gear pumps, piston pumps, vane pumps, and screw pumps, are instrumental in diverse industries, catering to the specific needs of aerospace and defence operations, industrial processes, automotive manufacturing, and water treatment facilities. They are essential components that facilitate the conversion of mechanical force into fluid pressure, enabling the seamless functioning of hydraulic systems in various applications. The expanding footprint of the hydraulic pump market is attributed to the heightened production in the automotive sector and the increasing emphasis on water treatment activities. As these sectors continue to grow, the demand for hydraulic pumps rises, substantiating the market's upward trajectory. The versatility and reliability of hydraulic pumps contribute significantly to their widespread adoption across industries, affirming their indispensable role in enabling efficient hydraulic power generation and fluid flow.

Access sample report or view details: https://www.knowledge-sourcing.com/report/hydraulic-pumps-market

Based on type, hydraulic pumps can be gear pumps, piston pumps, vane pumps, and screw pumps. In the oil and gas sector, there is an anticipation that gear pumps will supplant centrifugal pumps, particularly in loading and unloading applications. The reason behind this shift is that centrifugal pumps prove inadequate in handling the denser crude oil extracted from mature oil fields and unconventional sources. Given the heavier nature of such crude oil, gear pumps are considered more suitable and are expected to replace centrifugal pumps in the mentioned applications within the oil and gas industry.

The market can be differentiated based on material into aluminium and stainless steel. Based on end-users, hydraulic pumps are expected to be widely used in the construction segment. The increasing construction and mining operations in developing nations are additional factors driving the demand for hydraulic pumps. A consistent requirement for hydraulic pump manufacturers is maintained due to the ongoing need for regular maintenance and replacement parts. Market expansion is further facilitated by advancements in hydraulic pump technology, including the introduction of energy-efficient pumps and intelligent systems.

The Asia Pacific region is poised to hold a significant portion of the hydraulic pump market, primarily due to the upsurge in automotive production and the establishment of water treatment facilities in the area. In November 2022, the Asian Development Bank entered into a $25 million debt facility agreement with VA Tech Wabag Limited (Wabag) to facilitate sanitation and water security by developing new water treatment plants in India. These initiatives are expected to stimulate the demand for hydraulic pumps, contributing to the growth of the regional hydraulic pump market.

Major players in this market are Yeoshe Hydraulics Technology Co. Ltd, Panagon Systems, Inc, Bosch Rexroth, Hydraulic & Pneumatic Products, Danfoss, Nabtesco Motion Control, Inc, Kawasaki Heavy Industries, Ltd, PARKER HANNIFIN CORP, PORCELAINPOCLAIN, Eaton Corporation. In 2021, Eaton introduced "X3 hydraulic pumps," specifically engineered for medium-duty propel applications in various machinery, including aerial work platforms, boom lifts, agricultural sprayers, harvesters and windrows, compactors, compact track loaders, skid-steer loaders, turf mowers, and utility vehicles.

The market analytics report segments the hydraulic pumps market on the following basis:

• By Type

o Gear Pump
o Piston Pump
o Vane Pump
o Screw Pump
o Others

• By Material

o Aluminium
o Stainless Steel

• By End-User

o Aerospace & defence
o Industrial
o Automotive
o Water Treatment
o Construction
o Others

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• UK
• France
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• China
• Japan
• South Korea
• India
• Australia
• Other

Companies Profiled:

• Bosch Rexroth
• Danfoss
• Eaton Corporation
• Hydraulic & Pneumatic Products
• Kawasaki Heavy Industries, Ltd
• Nabtesco Motion Control, Inc
• Panagon Systems, Inc
• PARKER HANNIFIN CORP
• PORCELAINPOCLAIN
• Yeoshe Hydraulics Technology Co. Ltd

Explore others reports

• Liquid Ring Vacuum Pump Market: https://www.knowledge-sourcing.com/report/liquid-ring-vacuum-pump-market

• Global Gear Pumps Market: https://www.knowledge-sourcing.com/report/global-gear-pumps-market

• Global Heat Pumps Market: https://www.knowledge-sourcing.com/report/global-heat-pumps-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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